Concerns grow over lack of carbon accounting standards
Experts have voiced growing concern that businesses in the UK and abroad are still without a standardised method of accounting for carbon, despite impending policies forcing companies to begin reducing energy emissions.
The issue is made urgent by the looming introduction of the Carbon Reduction Commitment (CRC) in April 2010, which will compel the largest 5,000 companies in the UK to report and pay for carbon emissions produced from energy consumption.
Accountancy Age understands that a letter is being drafted by the accountancy institutes and the Big Four firms calling for the International Accounting Standards Board (IASB) to address the absence of a global policy on emissions reporting.
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